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5.1

The Director of Finance & Commercial Services
submitted a report providing details of proposed changes to the
capital programme in relation to the Future High Streets Fund
(FHSF) Events Central
Scheme.

At the meeting of the Finance & Performance
Policy Committee of 18 August 2025 it was agreed that an item in
relation to the Events Central scheme be deferred to be
reconsidered at this extraordinary
meeting.

It was noted that funding was secured from the
Department for Levelling Up, Housing and Communities (DLUHC) for
the purpose of renewing and reshaping town centres and high streets in a way that improves
experience, drives growth and ensures future sustainability.
The Council are utilising these funds to proceed a programme of proposed FHSF
works for capital interventions on Fargate. Following on from the public realm improvements
on Fargate, the Events Central Building
project has secured the purchase of 20-26 Fargate for the proposed delivery of a multi-use
event hub building. It is envisaged the Events Hub will be a
mixed-use hub for events, exhibitions, and performances
accommodating 100-200 attendees, workspaces and facilities for all
ages.

Following the approval of the initial Outline Business Case, in
March 2022, which estimated the costs of delivery at £6.9m
the scheme fully designed was
tendered. The costs returned from this exercise were unaffordable
and there were concerns around exclusions and omissions which would
have pushed costs up further. The scheme was retendered in
July/October 23 with similar results and a higher cost quotation.
Finally, a cost led design and build approach has been adopted,
giving the Council more control and allowing officer to work with a
nominated contractor to find the lowest budget achievable to
deliver the required scope to meet the outputs required of the
Future High Streets Fund application. Based on this agreed cost and
improved risk approach, an application was made for additional
Gainshare funding in order to increase the overall budget envelope.
This funding was awarded in early
August

Members
welcomed the recent detailed briefing on the matter, and it was
recognised that there needed to be a way of ensuring that Finance
and Performance Policy Committee Members are kept fully informed
and briefed on capital schemes, in particular, when there are
significant changes to schemes, such as in this case.  It was noted that officers were now working out
the details of a new approach to achieve this.  Members went on
to clarify issues around value for money; timescales between
outline and full business case; potential for increased costs if no
decision taken today; the proposed changes to SYMCA funding
arrangements; process for applying for external funding; and the
benefits of this scheme.

It was agreed that a redacted version (excluding the
confidential information) of the briefing provided to Members be
published alongside the minutes of the
meeting.

 

 

5.2

RESOLVED UNANIMOUSLY: That Strategy and
Resources Policy Committee approve the proposed variation to the
Capital Programme listed in Appendix 1 in respect of Future High
Streets Fund (FHSF) Events Central
Building.

 

 

5.3

Reasons for Decision

 

 

5.3.1

The proposed
changes to the Capital programme will improve the services to the
people of Sheffield

 

 

5.3.2

To formally record changes to the
Capital Programme and gain Member approval for changes in line with
Financial Regulations and to reset the capital Programme in line
with latest information.

 

 

5.4

Alternatives Considered and
Rejected

 

 

5.4.1

Several alternative
courses of action are considered as part of the process undertaken
by Officers before decisions are recommended to Members. The
recommendations made to Members represent what Officers believe to
be the best options available to the Council, in line with Council
priorities, given the constraints on funding and the use to which
funding is put within the Revenue Budget and the Capital
Programme.